LONDON.-Sothebys Greek sale in London today realized £3,925,175 (4,380,882). Four new auction records were established (for works by Spyros Vassiliou, Georgios Zongolopoulos, Constantin Xenakis, and Konstantino Byzantios), with almost 37% of the works sold achieving prices in excess of high estimate.

Constantine Frangos, Senior Director and Head of Greek Sales at Sothebys, said: Todays results demonstrate an enduring strength in the market. Top quality works sold very well, with collectors eager to bid on rare pictures that were reasonably estimated. 

The top selling lot of the day was Nicholas Gysis "The Fortune Teller" (lot 13), which made £325,250 (202,818). Recently re-discovered in an American collection, this quintessential example of the artists work attracted strong competition, finally selling to an anonymous buyer bidder over the telephone.

Other works by Gysis also performed well, with "Girl Washing by a River" (lot 22) selling for £181,250 (181,250).

Also the focus of much competition today was Spyros Vassilious "Patisson Street, Athens". One of the most important works by the artist ever to appear at auction, this early testament to the artists lifelong love affair with Athens realized £199,250 (222,383), selling to a telephone bidder for a price well in excess of pre sale expectations (£80,000-120,000).

Two works by Nicos Hadjikiriakos Ghika performed well. His "The Captive" (Olive Trees) (lot 50) fetched £181,250 (202,293) and his "Three Tailors" made £79,250 (88,681). Other strong prices included that for Georgios Jakobides "Young boy" (lot 16), which achieved £181,250 (202,293).

The sale also included an important group of works by Yannis Spyropoulos. Of particular note in this group was "Logos B", an abstract work which realized £91,250 (101,844) against an estimate of £60,000-80,000. Alongside this, "Piraeus", a rare, early work from the 1940s, sold for £79,250 (50,000-70,000), against an estimate of £50,000-70,000.

Among the contemporary paintings in the sale Alecos Fassianos "The Embrace" soared above estimate, realizing £91,250 (101,844)  some three times the pre sale estimate of £25,000- 35,000). Having remained in a private American collection for many years, this striking work appeared today for the first time ever on the open market. Sothebys sale today included no fewer than 12 works by the artist, 11 of which sold for a combined total of £389,625 (415,212).

From a slightly earlier period, Demetrios Galanis "Portrait of Fanny, the Artists Wife" handsomely exceeded expectations, selling for £79,250 (88,451). Other works from this period also performed well. Nikolaos Lytras "Pomegranates" (lot 56) made £37,250 (41,683), as did "Aegina" by Spyros Papaloukas (lot 23). Similarly, Konstantinos Maleas "Pine Trees in Raffina" (lot 24) made £49,250 (55,111).